URANIUM might disappoint

At the risk of sounding like a bear I think we have come too far, which is why we have seen the sharp pullback of late, I regret that I didn't catch this bearish divergence as it was emerging but my focus was elsewhere...

Let's imagine we have completed the first five waves from the 2020 bottom. That means that we are overdue a pullback that retraces a good proportion of the first wave.

I believe in Uranium and CCJ and am waiting for a better position, but for now, I'm not a buyer at the 200 day MA. I'll layer into names like PDN and AGE etc. as we approach the 0.5 retracement, but there may be more pain if we get a wider market pullback in future. Hoping I'm wrong for the uranium bulls out there but I'm gonna stay conservative for now, good luck friends!